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Just need help with 4,6, 7b and 9 thanks!!! the general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the
Just need help with 4,6, 7b and 9 thanks!!!
the general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances:
Account Title | Debits | Credits | ||
Cash | 31,100 | |||
Accounts receivable | 14,000 | |||
Equipment | 23,000 | |||
Accumulated depreciation | 6,900 | |||
Salaries payable | 8,000 | |||
Common stock | 45,000 | |||
Retained earnings | 8,200 | |||
Total | 68,100 | 68,100 | ||
4.Prepare an unadjusted trial balance. 6. Prepare an adjusted trial balance. 7-b. Prepare a balance sheet as of December 31, 2021. 9. Prepare a post-closing trial balance.
The following is a summary of the transactions for the year:
- Service revenue, $118,000, of which $35,400 was on account and the balance was received in cash.
- Collected on accounts receivable, $24,400.
- Issued shares of common stock in exchange for $12,000 in cash.
- Paid salaries, $43,000 (of which $8,000 was for salaries payable at the end of the prior year).
- Paid miscellaneous expense for various items, $23,200.
- Purchased equipment for $14,000 in cash.
- Paid $2,850 in cash dividends to shareholders.
- Accrued salaries at year-end amounted to $860.
- Depreciation for the year on the equipment is $2,300.
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